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Some anecdotal evidence on the mood among investors has come across our desks: a note from Benoit Anne of Société Générale entitled “EM investor survey: Investors are now extremely worried”.

Among the survey’s conclusions: “it is quite clear that the shorter-term bullish investor on GEM has virtually disappeared”. Continue reading »

The two-day annual meeting of the European Bank for Reconstruction and Development, starting on Friday, promises more drama than usual. Not only must the key east European lender find further ways of stemming contagion from the escalating eurozone crisis – and Greece’s possible exit – into its core region. It also faces a leadership contest that some European officials say could become a “battle for the soul” of the institution. Continue reading »

The fastest way to throw the Polish government into consternation is to have a Russian group making a bid for a state-owned company, as is happening now with Azoty Tarnow, a big chemicals company.

Norica Holding, a Luxembourg affiliate of Russia’s Acron Group chemical company, on Wednesday offered 36 zlotys ($10.59) per share to buy 66 per cent of Azoty Tarnow. As a result the share price on the Warsaw Stock Exchange jumped by 12.7 per cent to 36.18 zlotys. Continue reading »

Just when Hungary’s telecos were beginning to think they could live normally – the sectoral “crisis” tax imposed in 2010 is due to end soon: wham, they get hit again. So György Beck, Vodafone’s local chief executive, told Hungary’s ATV on Tuesday night. Continue reading »

Just as South Sudan’s finances are running out and investors are thinking about packing up and leaving, an “ultra-modern” office block might seem the least viable investment going.

But try telling that to the developers behind the $17m project, UAP Holdings. The 12-storey Equatoria Tower is set to be the tallest building in Juba, the southern capital more famed for dust and containers that double as homes than high rises, or anything approaching modern. Continue reading »

How do you build India’s first truly global pharmaceuticals group? One bit at a time – at least that seems to be how Ajay Piramal is going about it.

Having bought a molecular imaging business from Germany’s Bayer last month, the billionaire head of Piramal Healthcare on Wednesday unveiled the results of his latest trip to the shops: Decision Resources Group, a US health information provider that it bought from Providence Equity Partners for $635m. Continue reading »

The north African nation of Algeria has hired an American company, Itron, to upgrade the metering system for its electricity power network.

US firms play a relatively major role in Algeria’s economy, but mostly in developing the oil and gas industry, rather than utilities. Continue reading »

* EM market mayhem

* Indian rupee hit by global risk aversion

* Taiwan leader fined for Facebook post

* US customs review delays HTC phone sales Continue reading »

Emerging markets are once again in the firing line from the salvoes of bad news coming from the EU as they have been all this week. Continue reading »

Could Taiwan’s president Ma Ying-jeou be the first person in the world to be fined for his activities on Facebook?

Ma, who won re-election to a second term earlier this year, was on Wednesday ordered to pay T$500,000 (US$16,666) by the island’s Central Election Commission for posting a message to his Facebook campaign page on the day of the election. Continue reading »

Wednesday’s waifs and strays from the BB team: Martin Wolf on superpower; the impact of a Grexit; India is breaking down… and annoyed with Russian tourists. Plus: the old “build and they will come” theory in UAE; Asian asymmetry; Ghana’s moment à la Mobius; and Putin’s G8 snub – good move, or kick him out? Continue reading »

Another growl from Deutsche Bank’s emerging markets bear, John-Paul Smith. This time he’s had a close look at Chinese corporates – and doesn’t like what he sees.

He’s worried about the overcapacity created in the recent huge investment wave, compounded by Beijing’s failure to maintain discipline over its free-spending regions or enforce loudly-touted consolidation plans in key industries, eg steel.

Investors should therefore be wary of the apparent cheapness of Chinese stocks. Far from being a buying opportunity, low prices are signalling “a major break in the growth model”. Caveat emptor. Continue reading »

The Indian rupee weakened to a lifetime low of 54.46 to the dollar on Wednesday, with analysts blaming global risk aversion as much as weaknesses in the domestic economy for the currency’s downward spiral. Continue reading »

For the bulls, Wednesday is so far a matter of “look away now”. Worst hit among Asian markets – all of which are comfortably in negative territory – is the Hang Seng, down more than 3 per cent by mid-afternoon.

While the main concern for investors globally might be Greece, the slow drum beat of bad news from China continues. Continue reading »

Selling jewellery to Asia’s newly rich or insurance to the emerging middle class might sound more glamorous than selling sachets of shampoo to the poor.

But in fast-growing Indonesia, lower-cost consumer goods are where it’s at, according to Standard Chartered. The combined spending power of those Indonesians making under $4/day adds up to some eye-catching numbers: they represent over half of household spending. Continue reading »

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54.46 Rupees to the dollar on Wednesday, an all-time low for India's currency.

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